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Nasdaq-listed Vivopower Partners Crypto.com, Stock Jumps 5%

Vivopower partners with Crypto.com for secure digital asset custody and trading, boosting XRP accessibility and market participation.

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Nasdaq-listed Vivopower International has forged a strategic partnership with Crypto.com, a leading cryptocurrency platform, to provide institutional-grade custody for its rising digital asset holdings, including XRP.

The collaboration entails Crypto.com Custody safeguarding Vivopower’s digital assets, offering a robust and comprehensive end-to-end solution tailored for institutional and high-net-worth clients. This partnership ensures the secure storage and management of Vivopower’s digital assets within a regulated and trusted environment.

Vivopower Trading Integration

In addition to the custodial services, the partnership will facilitate the trading of Vivopower shares on Crypto.com’s broker-dealer platform. This integration provides both retail and institutional investors with seamless access to Vivopower’s equity, fostering greater market participation and liquidity.

Furthermore, Crypto.com users will benefit from enhanced liquidity for XRP and other tokens, coupled with opportunities to engage in upcoming XRP restaking through Flare Networks, a strategic partner already aligned with Crypto.com.

Following the announcement, the firm’s stock price surged by over 5% to $6.37, indicating positive price action and potential volatility. However, investors are advised to monitor the stock’s performance closely for further developments.

Eric Anziani, President of Crypto.com, pointed out the company’s dedication to providing a secure and future-proof platform for digital asset management. Kevin Chin, Executive Chairman of Vivopower, highlighted the significant exposure to Crypto.com’s extensive user base of 150 million and the potential for accelerated global expansion arising from the partnership.

Moreover, this partnership comes after Vivopower decided to increase its XRP holdings. The company had earlier said it would buy $100 million of Ripple shares, which meant it got the token for about $0.47 each. This action matches Vivopower’s primary goal of growing its business in money services that use blockchain technology.

Previous Investment Moves

Previously, CoinTab reported that BitGo would serve as VivoPower’s exclusive over-the-counter (OTC) trading partner for the XRP purchase and custodian for the acquired crypto assets. This move is backed by $121 million in funding secured by VivoPower to support its strategic transition.

Moreover, Vivopower, one of the first public companies to create a special fund just for XRP, has already raised $121 million. They will use these funds carefully to buy XRP and help build the XRP Ledger (XRPL) for real-world blockchain applications in finance.

It is worth noting that Nature’s Miracle, a company that uses technology for growing plants, also recently announced a $20 million plan to hold XRP. The company plans to use proceeds from the sale of shares to build a long-term XRP fund.

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